728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads

Enova Reports Fourth Quarter and Full Year 2017 Results

THIS POST WAS ORIGINALLY PUBLISHED ON THIS SITE Click Here To Read Entire Article

CHICAGO, Feb. 1, 2018 /PRNewswire/ — Enova International (NYSE: ENVA), a leading financial technology company offering consumer and small business loans and financing, today announced financial results for the quarter and year ended December 31, 2017.

“We are pleased to report record fourth quarter results, which were driven by strong demand and solid credit performance across our businesses,” said David Fisher, Enova’s CEO. “We’ve made significant progress in transforming our business since our spin-off three years ago.  We’ve entered new markets, launched multiple new products, substantially diversified our revenue and navigated significant regulatory changes. Furthermore, we’ve diversified our marketing channels and demonstrated our ability to grow our market share and generate sustainable growth. These efforts, combined with our highly scalable and flexible technology, provide a lot of tailwind as we head into 2018.”

Fourth Quarter 2017 Summary

Total revenue of $243.7 million in the fourth quarter of 2017 increased 20.4% from $202.4 million in the fourth quarter of 2016. Gross profit margin was 47.7% in the fourth quarter of 2017 compared to 51.8% in the fourth quarter of 2016, driven by growth in the installment loan and receivables purchase agreement segment as well as a higher mix of new customers, which requires higher loan loss provisions. Net income was $6.9 million, or $0.20 per diluted share, in the fourth quarter of 2017 compared to net income of $8.7 million, or $0.26 per diluted share, in the fourth quarter of 2016. Fourth quarter 2017 adjusted EBITDA of $38.1 million, a non-GAAP measure, increased from $35.1 million in the fourth quarter of 2016. Adjusted net income of $8.9 million, or $0.26 per diluted share, a non-GAAP measure, in the fourth quarter of 2017 increased from adjusted net income of $8.5 million, or $0.25 per diluted share, in the fourth quarter of 2016.

Full Year 2017 Summary

Total revenue of $843.7 million in 2017 increased 13.2% from $745.6 million in 2016. Gross profit margin was 53.0% in 2017 compared to 56.0% in 2016. Net income was $29.2 million, or $0.86 per diluted share, in 2017 compared to net income of $34.6 million, or $1.03 per diluted share, in 2016. Full year 2017 adjusted EBITDA of $157.8 million, a non-GAAP measure, increased from $142.3 million in 2016. Adjusted net income of $46.9 million, or $1.37 per diluted share, a non-GAAP measure, in 2017 increased from adjusted net income of $37.5 million, or $1.12

About The Author

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *